I agree that saying “Nike is a sinking ship” is a little dramatic. 3 billion in profit is still a lot money. I also think that in general the sneaker space is in a weird place, not just because of the rise of things like loafers among the chronically online menswear set (it me).
More than that, the reality is innovation isn’t worth as much as it once was. Few people outside of hardcore athletes care if a shoe has the latest tech the way they did when Flyknit Trainer debuted (one of the best sneakers of all time btw).
Still, I just saw their SS27 footwear lineup this week and it did little to inspire a feeling that better days are ahead. (I do love the retro track jacket I just posted about tho!)
So I guess it remains difficult for me to see the path forward for Nike, or the *how* they can regain their elite status in the North American market, when the thing that made Nike what it is—that game-changing approach to shoe design—matters less than ever.